China continues to produce more steel than the rest of the world, COMBINED

[Shotgunner51]

This Modi guy has no clue in conomics whatsoever. He was selling tea in his younger years in a railway station.
Bring me some tea. Lol

As part of the supply chain, steel production is a refection of its pivotal contribution to the three pillars of economy - infrastructure, manufacturing & consumption - all which the outside world has no idea of how gigantic it is in China measured in physical terms.

• Infrastructure: Examples are expressways, rails, metros, airports, sea ports, urbanization, landscaping, dams, grids, power plants etc. To support these China produced 58.6% of world's concrete i.e. more than rest of the world combined.
• Manufacturing: China not just lead the world in manufacturing value added, in physical terms there is a long list of items where China lead by huge margin (e.g. China produced 45% of world's ships/vessels), and many items even more than rest of the world combined.
• Consumption: China leads the world in a long list of durable consumer goods.

China is already gigantic in absolute volumes, while India isn't even close. Though down to per capita basis China has to continue its current path development to match countries like Korea and Japan.

Similar logic applies to India, ultimately things get produced, exported or consumed by individual people, not by a few politicians. The challenges ahead of India includes its extremely low per capita economy (even lower than Sub-Saharan Africa), health (malnourishment rate, poverty) and literacy (ranked #72~74 out of 74 in PISA tests; IQ level at 81, ranked 60 out of 81 countries). There are a lot of rooms for improvement, politicians need to take solid steps to boost the quality of the people, since human resources is the number one factor in productivity (except resources rich countries). Only with people, the three pillars of economy can be built, and ultimately achieve wealthiness.

 

[ExtraOdinary]

China has an existing overcapacity, the govt. there is actually trying to remove this excess capacity, approx 80 million tons by 2018. The Indian industry's focus should be on churning out high quality value added steel grades, which means investments into procuring advanced steel manufacturing tech.

http://www.ey.com/Publication/vwLUAssets/EY_-_Global_steel_2014/$FILE/EY-Global-steel-2014.pdf

Global steel 2014 - EY Emerging Markets Center

 

[AndrewJin]

I can hope so.

I don't think India should be afraid of opening to foreign investments. More competition actually simulates local brands. Just see the case in China, 10 years ago, when we bought white goods, we would think Electrolux, Sony and Samsung. But now, Haier and Gree are selling their expensive white goods to Europe and have their R&D centres around the world. Of course this process is extremely painful.

 

[Nilesh Singh]

Indian build Dubai, but not their own.... stupid country!

why your a** is on fire, if you can put some sensible post please do that otherwise do not provide some a** smart quote to us.

 

[Yaduveer]

An article worth Reading..

India's steel production can touch 300 mn tonnes by 2025

The centre is committed to remove the hurdles in steel production by scaling up production to to 300 million tonnes (mt) by 2025 from the 81 mt in 2013-14, according to Narendra Singh Tomar, Minister for Steel and Mines, who added that India does not want to stand on the fourth position in steel production in the world but wants to move to second position in the next 10 years.

Addressing the National Metallurgy Day awards at the College of Engineering in Pune on November 15, 2014, Tomar said, “The steel industry is committed to achieving this target under the ‘Make in India’ program chalked out by the PM Narendra Modi. In order to achieve this, forgetting the neglect and lapses of the past, we would try and remove the obstacles in supply of the raw material iron ore for steel producers, remove problems in mining of the ore, and bring in simplicity and transparency in the sector so that producers are rest assured that if they invest in a plant they can produce the steel.”

Tomar said that except SAIL and Tata Steel most other producers are dependent on others’ mines and hence simplifying procedures and amending the law would be done. The MMDR Act would be amended by doing the necessary research on the changes required.

Stressing that research was a neglected activity in the sector, Tomar said, “This must be corrected by increasing the spending on R&D. Without R&D, we cannot hope to be a large exporter in steel and catch up with countries like China. His Ministry has decided to set up a Research Centre to encourage R&D in the sector which will also encompass the private sector.”

India's steel production can touch 300 mn tonnes by 2025 | Business Standard News

 

[HariPrasad]

I read some reports in the past by many top economists and analysts about the different between Chinese and Indian.

Chinese is just know how to steal and copycat thing.

While Indian is innovative and creative people.


When we are designing an economy model for India, we should consider the local aspect too. We should use the true strength of the Indian people.

Miscalculating will result a great disaster for Indian.

Our strength is some hyper genius people who have single handedly bring a huge change in our society.
Swami Ramdev has made a great revolution in health sector, he bought renaissance against corruption along with Anna hazare
Modi governance model impressed huge masses of all class. We are at a stage from where there is no looking back. We shall witness a great raise of India in all sector without destroying the culture like china. We are in stage of taking a giant leap in the field of Economy, defense and other sectors like medical and education. Our soft power is going to influence the world to make it a batter place to leave.

 

[ExtraOdinary]

Our strength is some hyper genius people who have single handedly bring a huge change in our society.
Swami Ramdev has made a great revolution in health sector, he bought renaissance against corruption along with Anna hazare
Modi governance model impressed huge masses of all class. We are at a stage from where there is no looking back. We shall witness a great raise on India in all sector without destroying the culture like china. We are in stage of taking a giant leap in the field of Economy, defense and other sectors like medical and education. Our soft power is going to influence the world to make it a batter place to leave.

But your feku leader Modi is a mass murderer, he is attacking churches these days, how will economy develop if he only concentrates on creating communal hatred against others

 

[Yaduveer]

• As per the report of the Working Group on Steel for the 12th Five Year Plan, there exist many factors which carry the potential of raising the per capita steel consumption in the country. These include among others, an estimated infrastructure investment of nearly a trillion dollars, a projected growth of manufacturing from current 8% to 11-12%, increase in urban population to 600 million by 2030 from the current level of 400 million, emergence of the rural market for steel currently consuming around 10 kg per annum buoyed by projects like Bharat Nirman, Pradhan Mantri Gram Sadak Yojana, Rajiv Gandhi Awaas Yojana among others.
• At the time of its release, the National Steel Policy 2005 had envisaged steel production to reach 110 million tonnes (mt) by 2019-20. However, based on the assessment of the current ongoing projects, both in greenfield and brownfield, the Working Group on Steel for the 12th Five Year Plan has projected that domestic crude steel capacity in the county is likely to be 140 mt by 2016-17 and has the potential to reach 149 mt if all requirements are adequately met.

From Steel ministry.

 

[帅的一匹]

Political speeches comes with a bucket full of salt.
Intent should be seen, numbers are generally out of bounds

Unless China stops Steel production, this will not happen atleast in Modi's life.

I guarantee you that you will surpass us in Steel production very soon, cause we have noticed the pollution problem.

 

[AndrewJin]

As part of the supply chain, steel production is a refection of its pivotal contribution to the three pillars of economy - infrastructure, manufacturing & consumption - all which the outside world has no idea of how gigantic it is in China measured in physical terms.

• Infrastructure: Examples are expressways, rails, metros, airports, sea ports, urbanization, landscaping, dams, grids, power plants etc. To support these China produced 58.6% of world's concrete i.e. more than rest of the world combined.
• Manufacturing: China not just lead the world in manufacturing value added, in physical terms there is a long list of items where China lead by huge margin (e.g. China produced 45% of world's ships/vessels), and many items even more than rest of the world combined.
• Consumption: China leads the world in a long list of durable consumer goods.

China is already gigantic in absolute volumes, while India isn't even close. Though down to per capita basis China has to continue its current path development to match countries like Korea and Japan.

Similar logic applies to India, ultimately things get produced, exported or consumed by individual people, not by a few politicians. The challenges ahead of India includes its extremely low per capita economy (even lower than Sub-Saharan Africa), health (malnourishment rate, poverty) and literacy (ranked #72~74 out of 74 in PISA tests; IQ level at 81, ranked 60 out of 81 countries). There are a lot of rooms for improvement, politicians need to take solid steps to boost the quality of the people, since human resources is the number one factor in productivity (except resources rich countries). Only with people, the three pillars of economy can be built, and ultimately achieve wealthiness.

It's a long process of bitterness and perspiration.

I guarantee you that you will surpass us in Steel production very soon, cause we have noticed the pollution problem.

Demand decreases, less ordinary steel consumption. However, high value-added manufacturing is increasing, we have high demand for special steel production. I think the total quantity is undoubtedly on the decline but not the total value.

 

[Shotgunner51]

It's a long process of bitterness and perspiration.

Well said, it's gonna be a long process, even if the priorities are set right. The quality of work force (education, IQ, health) and hence income (per capita GDP), together with infrastructure (urban planning), should be immediate and primary tasks for politicians, for them to lay their hands on, and leave the other things like manufacturing to the market.

 

[AndrewJin]

Well said, it's gonna be a long process, even if the priorities are set right. The quality of work force (education, IQ, health) and hence income (per capita GDP), together with infrastructure (urban planning), should be immediate and primary tasks for politicians to them to lay hands on, and leave the other things like manufacturing to the market.

I have never a heard of a modern democracy has already done that in history, if India does well in the future, is it the first case?

 

[Shotgunner51]

I have never a heard of a modern democracy has already done that in history, if India does well in the future, is it the first case?

Absolutely yes!

• Since WWII, naturally US being the only country left in one piece, at-the-time they dominated 75% of world economy. Then you see rise of Western Europe (though much thanks to US' Marshall Plan which is pivotal to their economic miracles) and East Asia, all are democracies (arguable though SK, Taiwan, Singapore all experienced period of authoritarian style governance), the common pattern is still highly literate and educated work force.
• While other political systems like the Socialist camp are not performing despite high educated population.

These samples show a democratic system could not just be successful but in fact an advantage over other political systems. India's challenge is not political system, it already has the right one, the reason behind its extremely underdeveloped economy is population quality, which should be government's top task. Like-wise all other underdeveloped economies in the Global South, be it India, or Sub-Saharan Africa, South/Latin America, education and healthcare should be top priorities.

 

[Guynextdoor2]

I am not sure if its ground reality of all cities. But just looking at few cities which i travel, Business is so dull these days that no one is trying to invest of anything. Real estate also not in good shape. construction might go down. This may surly impact production as price may decrease. Just thinking so. Not sure if its correct.

I think that is the case too.

 

[AndrewJin]

Absolutely yes!

• Since WWII, naturally US being the only country left in one piece dominates world economy. Then you see rise of Western Europe (though much thanks to US' Marshall Plan which is pivotal to their economic miracles) and East Asia, all are democracies (arguable though SK, Taiwan, Singapore all experienced period of authoritarian style governance), the common pattern is still highly literate and educated work force.
• While other political systems like the Socialist camp are not performing despite high educated population.

These samples show a democratic system could not just be successful but in fact an advantage over other political systems. India's challenge is not political system, it already has the right one, the reason behind its extremely underdeveloped economy is population quality, which should be government's top task. Like-wise all other underdeveloped economies in the Global South, be it India, or Sub-Saharan Africa, South/Latin America, education and healthcare should be top priorities.

Social structure is more pivotal to ideology I think. Population quality is crucial of course, or it will become more of a burden than bonus.